Quick answer: The Federal Reserve’s policy committee meets on October 27 and 28, 2026. The decision affects borrowing costs and savings rates. Check the Fed’s own website for the current rate range and the final decision.
When Is the Meeting?
The committee meets Tuesday, October 27, and Wednesday, October 28, 2026, a week before the midterm elections. The decision is usually released on the second day, followed by a press conference.
Where Rates Stand
At the last decision I could verify, the June 17 statement, the target range for the federal funds rate was held at 3.50 to 3.75 percent. Rates may have changed at later meetings, so confirm the current range at federalreserve.gov before relying on any figure.
What to Watch
- The decision: whether the committee holds rates or changes them.
- The statement wording: small changes in language often signal how officials view inflation and jobs.
- Dissents: disagreement among members can hint at future moves.
- The press conference: the chair’s comments on the economy and the path of rates.
Why Inflation Matters
Inflation and living costs have been among voters’ top concerns this year, which is why the Fed’s decisions draw attention beyond financial markets. The Fed balances stable prices against a healthy job market, and those goals can pull in different directions. Tariff policy also feeds into the debate. See our explainer on tariffs after the Supreme Court ruling.
What It Means for You
- Borrowing: Fed decisions influence credit card, auto and some business loan rates. Mortgage rates follow longer-term bond yields and do not always move with the Fed.
- Savings: Rates on savings accounts and certificates of deposit tend to follow the Fed’s direction.
- Business planning: Owners with variable-rate loans should review their costs. Our guide to using analytics to make better business decisions can help with planning.
Frequently Asked Questions
Will the Fed cut rates in October?
I can’t predict that. Market expectations change often, so check the official announcement and reputable news coverage.
Where do I find the official decision?
The Federal Reserve publishes its statement at federalreserve.gov on the second day of the meeting.
This article is general information, not financial advice. Meeting dates per market-tracking sources; confirm at federalreserve.gov.